Local media reports that French authorities have arrested more than 12 individuals related to two high-profile cryptocurrency kidnapping cases in Paris.
According to Le Parisien on May 26, among those arrested are several minors, facing charges including kidnapping, attempted kidnapping, and criminal conspiracy.
French investigators are exploring the possibility of a criminal organization behind the recent two cryptocurrency-related kidnapping cases, with social media networks being used to recruit members.
In the most recent attempted kidnapping case on May 13, three men attempted to kidnap the daughter and grandson of Pierre Noizat, co-founder and CEO of the French cryptocurrency exchange Paymium, in broad daylight in Paris.
Videos taken by bystanders show that the attempted kidnapping was thwarted as Noizat's daughter fought back, and passersby intervened.
In an earlier case in May, French authorities rescued the father of a cryptocurrency marketing entrepreneur who had been kidnapped and was demanded to pay a ransom of 5 to 7 million euros.
Le Parisien reports that authorities have not yet made any arrests in the attempted kidnapping case of Noizat's family, but up to six individuals have been identified and imprisoned in connection with the kidnapping of the cryptocurrency entrepreneur's father, including the alleged kidnapper.
Earlier this year, David Balland, co-founder of cryptocurrency hardware wallet manufacturer Ledger, was kidnapped at his home, with the criminals reportedly demanding cryptocurrency. Balland was rescued by French police a few days later.
French Interior Minister Bruno Retailleau has increased security measures for cryptocurrency entrepreneurs and their family members residing in France following a series of high-profile attacks earlier this month.
A GitHub page created by Jameson Lopp, co-founder of the self-custody company Casa and a crypto-punk, shows that there have been six incidents of ransom demands for cryptocurrency in France so far this year, with half of the incidents occurring in Paris.
Additionally, industry executives are enhancing security measures by hiring professional bodyguards to deter malicious actors.
Related: Crypto investors lose $2.5 million in double phishing scam
Original article: “Report: France Arrests Over 12 Suspects Linked to Cryptocurrency Kidnappings”
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